As a real estate investor, you may have already read a lot about how to make Airbnb in Miami Beach. Investing in seasonal Miami Beach has its advantages and disadvantages.
1 - About Airbnb on Miami Beach
Investing in Miami Beach is a popular idea among real estate investors. Miami Beach is a popular tourist destination and very famous. The location attracts visitors not only from the United States but also from around the world. Airbnb occupancy rates in Miami Beach are booming. Investment in Miami Beach is an excellent opportunity to rent in the short term.
2 - Miami Beach: Legal requirements to operate on Airbnb
Owning and managing an Airbnb property in Miami Beach comes with both benefits and regulations ... The biggest challenge investors face is local laws and regulations for short-term rentals. Here are Miami Beach Airbnb requirements to consider:
The first step is to check the planning regulations. The zoning of the city only allows seasonal rental in parts of the city. It must be ensured that its housing is compatible with local short-term rental rules.
Miami Beach Airbnb Requirements
As for Airbnb Miami Beach, there are specific laws and regulations for almost everything. This includes, but is not limited to: construction and design, as well as property maintenance. You must therefore be very careful when planning your Airbnb investment in Miami Beach.
Operating at Airbnb Miami Beach means that you are obliged to pay a tourist tax. This is of crucial importance for the management of your property in seasonal. This tax applies to any type of rental property in Miami Beach that is rented for less than six months. It is important to take this into account before calculating your potential Airbnb rental income.
Another Airbnb requirement in Miami Beach is to have a commercial license. The latter is required to operate legally as Airbnb host. This is one of the most important steps to take, but one that is often overlooked. So keep that in mind if you plan to invest in Miami Beach for seasonal rentals.
Additional rules may also apply to certain types of buildings that allow or do not permit seasonal rental.
3 - Analysis of the real estate market
Regarding Airbnb on Miami Beach, it is worth paying special attention to some numbers. According to AIRDNA, the average occupancy rate in the region is around 74%. This can be used as an indicator of the performance of Airbnb activity in Miami Beach. In addition, the average income of an Airbnb rental is around USD 190 per night. If you've decided to invest in a seasonal rental property, be aware that most Airbnb guests (39%) choose a one bedroom apartment, followed by studios (26%). This tells you which types of properties attract tourists to the area.
Investing in seasonal rental in Airbnb Miami Beach is an excellent opportunity for any real estate investor. However, you must be careful to comply with all regulations and to make a profit at the same time. Take your time, research, and contact us to target your search.